Marathon Gold (TSX: MOZ) announced today it had arranged financing for partial constructions of its Valentine gold project in Newfoundland Labrador.
Canaccord Genuity and a syndicate of underwriters agreed to purchase, on a "bought
deal" basis, 136,364,000 units at a price of $1.10 for proceeds of $150 million. Each Unit will consist of one common share of the company and one-half of one common share purchase warrant at $1.35.
The company traded down 18.75% today to end at $1.04 a share.
